PARLIAMENTARY GOSSIP.

Thames Star, Volume XV, Issue 4913, 8 October 1884, Page 2

PARLIAMENTARY GOSSIP.

[By Telegbafh.]

(Fa©!! OUB OWN COBBESPOHDENT.)

Wellington, Last night. Your readers probably" occasionally wonder tbat nothing is now said of the vacant portfolio, but it is understood that there is some difficulty over the appointment, not likely to be removed during the session. When the Ministry was being formed, a promise is said to have been made to Sir Geo. Grey •to the effect that if Mr MitChelson refused to accept office, the vacancy should be filled by a Greyite; this will probably be done as soon as the session closes, but at present Government do not think it advisable to make any changes in tho Cabinet. The text of the Public Accounts Committee's report on the Obinemuri Goldfields Revenue Adjustment Bill is as follows :—"That after giving to the question i full consideration, and after taking evidence, the Committee is of opinion that no claim has been established by the Thames County Council to the revenue with which it is proposed to deal by this Bill, and that the Bill should not pass." Mr Cadman to-day presented the petition of 133 miners in Ooromandel district, setting forth that large deposits of gold and other precious metals are supposed to exist in lands situated at Coromandel, between the Driving Creek and Union Beach mines ; that these lands can only be prospected by sinking or boreing, but that they are not in a ppsition to undertake the necessary operations ; they therefore pray that Government will grant them monetary assistance to prosecute such operations, as has been done on other goldfields. From a return presented to-day, it

appears that during the three years ending 31st March, 1884, a sum of £56,400 has been allocated for roads on goldfields in the colony, whilst £38,096 has been expended in that period:—Coromandel County had £3161 allocated, and £1296 expended; Thames, £4439 allocated, £2325 expended ; Piako, £9616 allocated, £9616 expended ; Buller, £9063 allocated, £5176 expended ; Inaogahua, £6540 allocated, £5725 expended; Grey, £6245 allocated, £3250 expended; Westland, £4008 allocated, £1662 expended; Tua- j peka, £1933 allocated, £333 expended ; and Lake district, £10,604 allocated, and £7475 expended. Ministers are gradually moving into the Ministerial residences ; Sir Julius Yogel took|possession of the Tinakori road house, yesterday vacated by Mr Mitchelson. With reference to the statement I telegraphed you to-day to the effect that a " round robin," signed by about forty members, had been addressed to the Premier, praying that Parliament shall prorogued about the 24th of this month, the Post of this evening says :—" An extraordinary petition is being hacked about the lobbies of the House for signature by 'Mr J. Holmes. It is addressed to His Excellsncy the Governor, and its prayer is that he may be advised to prorogue Parliament at no later date than the 24th inst. We believe that there is not the slightest foundation for the rumor that this step of Mr Holmes has been inspired by the Government^ but that on the contrary it was conceived by Mr Holmes solely, who has acted on his own responsibility."

Government Insurance Bill. In the Government Insurance Assoeatioa Bill, introduced this afternoon, there is much of interest still to be said with reference to the proposals, though the main points were telegraphed to yeu a month ago. The bill repeals the greater part of the existing Acts relating to the department, but temporarily retains others until they are incorporated in another measure which it is intended to introduce under the title of the Life Assurance Policies Bill. The whole of the policyholders of the Government Assurance Department are to be incorporated as an association, with a central board of management. This board is to consist of eleven persons, one being the Colonial Treasurer (who is to be ex officio chair-, man, the reason being that the colony is liable for the contracts of the association) and the other members of the board are to be the Solicitor-General, Auditor and Controller* General, Secretary to the Treasury, and Public Trustee for the time being. Three persons are to be nominated by the Governor, and three are to be elected by • the policy-holders. Each holder of a policy of not less than £100, and which has been six months in existence, to have one vote. The elected directors are to receive a salary of £100 a year each; this is not to render them liable to the Disqualification Act. Any person, whether a policy-holder or not, is to be eligible as a director, but he must not be a director of any other life assurance institution. One nominated and one elected director are to retire annually, but are to be eligible for reappointment. The officers of the association are not to be under the provisions of the Civil Service Act, and have no claims for pension or compensation. A local board of directors, consisting of three members, may be established -by the central board, who shall appoint one member (who shall be chairman), the other two local directors (one to retire annually) are to be elected by the policy-holders within the district in which the local board exercises its functions. The power of local boards are to be defined by the central board, subject to the approval of the Governor in Council. The central board may establish agencies of the association in the United Kingdom, or in any of the Australian colonies, and in addition to the powers of insurance now exercised, the board is to have authority to grant endowments and superannuations, and to insure against accidents. Very full powers are given to the Governor in Council to make regulations for the conduct of business by the board, and due provision is made for the safe custody of. money and the proper management of the fund. The board will hare very much the same powers as the present Commissioner, save that in appointing and removing officers ifc will be free from Ministerial interference, and will not be subject to pre»audit of its accounts, though a stringent post-audit by the Audit Office is provided for. All officers at present holding appointments are to retain them until the board declares otherwise. The report and accounts of the association are to ba laid before Parliament annually. Some alteration is made in the present system of the distribution of the surplus profits. The Governor in Council is to cause an inves gation to be made by an actuary; the profits arising from past transactions are to be separated from those arising from contracts entered into after the passing of the Act; ten par cent, of the surplus profits from the latter transactions are set aside for investment as a guarantee fund, after which the Governor may order a division of the remaining profits, either according to the report of the actuary or he may direct any portion or portions of the net surplus as the same is stated in such report to be divided. Parliamentary j control i 3 reserved by requiring the Order in Council to be laid before Parliament for thirty days, giving Parliament the opportunity of forbidding its coming into force.but to protect the guarantee, provision is made for the setting aside of 10 per cent of the profits of the association arising from future transactions, at every quinquennial investigations for the croa tion of a guarantee fund, which will be first exhausted in case of a deficiency, before any call can be made oq the con* solidated fund. The guarantee of the Government is in the same form as at present, though power is given to the Colonial Treasurer to recoup the consolidated fund by selling the securities of the association. Finally tie power of investment has been extended by allowing of loan on first mortgage of freehold land, and also subject to the Colonial Treasurer's consent, of the purchase of premises for the boards business, This day. The Goldfields' Committee reports that Adam Porter has no claim for the discovery of the Te Aroha goldfields, but recommends that a small sum be paid to Hone Werahiko's trustee, in accordance with the recommendation of the Warden.